Tax Haven Abuse: (Wyly Case)(Summary)
The 8/1/06 Report: United States Senate (Permanent Subcommittee on Investigations/Committee on Homeland Security and Governmental Affairs) described Wyly Case History (see excerpted pages 7,8) :
Wylys: 58 Offshore Trusts and Corporations
The sixth, and final, case history comprises the most elaborate offshore operations reviewed by the Subcommittee. Over a thirteen-year period from 1992 to 2005, two U.S. […]
Tax Haven Abuse: the Enablers, the Tools and Secrecy (Findings)
U.S. Senate (8/1/06 Report) Report Findings
1. Control of Offshore Assets. Offshore “service providers” in tax havens use trustees, directors, and officers who comply with client directions when managing offshore trusts or shell corporations established by those clients; the offshore trusts and shell corporations do not act independently.
2. Tax Haven Secrecy. Corporate and financial secrecy laws […]
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